Live Nation Entertainment (NYSE:LYV) Given Outperform Rating at Oppenheimer

Live Nation Entertainment (NYSE:LYV)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a research report issued on Tuesday, Benzinga reports. They presently have a $110.00 price target on the stock. Oppenheimer’s target price would suggest a potential upside of 23.73% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Roth Mkm reiterated a “buy” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Friday, May 24th. Morgan Stanley reiterated an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Redburn Atlantic upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $114.00 to $115.00 in a research report on Thursday, May 9th. TD Cowen restated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Finally, Rosenblatt Securities upped their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.58.

Live Nation Entertainment Stock Performance

LYV stock traded down $0.48 during trading on Tuesday, hitting $88.90. The company had a trading volume of 55,123 shares, compared to its average volume of 2,240,571. The firm has a market cap of $20.42 billion, a PE ratio of 84.67, a price-to-earnings-growth ratio of 1.90 and a beta of 1.35. Live Nation Entertainment has a 1-year low of $76.48 and a 1-year high of $107.24. The firm has a 50-day moving average price of $92.99 and a 200-day moving average price of $94.31. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.25) EPS. On average, analysts expect that Live Nation Entertainment will post 1.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LYV. Norges Bank purchased a new position in shares of Live Nation Entertainment during the 4th quarter worth $248,139,000. Cantillon Capital Management LLC raised its position in shares of Live Nation Entertainment by 146.6% in the 4th quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock worth $257,101,000 after buying an additional 1,632,749 shares during the period. Jericho Capital Asset Management L.P. raised its position in shares of Live Nation Entertainment by 52.8% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after buying an additional 726,000 shares during the period. Nordea Investment Management AB raised its position in shares of Live Nation Entertainment by 104.2% in the 4th quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock worth $112,268,000 after buying an additional 606,743 shares during the period. Finally, Kodai Capital Management LP purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth $44,340,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.